I have noticed a certain trend in the last half a year, my FICO credit score has suddenly started to decrease. Half a year ago I got a new credit card and moved to a new place (so the rental company pulled a hard inquiry), and that decreased my credit score by ~20 points, but I wasn't worried at the time as I figured as long as I continue paying the credit cards in full on time, my score would bounce back up. However, that has not ended up happening, it keeps decreasing by 4-5 points every month. Literally nothing else has changed, I always pay off my credit cards in full at the end of the period, and my credit utilization ratio is ~15% compared to my available credit, I looked at my account at Experian and it only shows the inquiries I already know about and credit card accounts that show "never late". I don't have any other loans except for a credit card, which I know can be a reason for my FICO score stalling, but it shouldn't keep decreasing! What's going on and how can I prevent my FICO score from decreasing and hopefully bouncing back to my score half a year ago?
Submitted December 12, 2021 at 09:52AM by Sunny_Hill_1 https://ift.tt/3DLLFy3
